Seven Investment Management (7IM) has received £14 million from its parent Caledonia Investments as part of the financing of Tcam Asset Management's acquisition.
The deal, for an undisclosed sum, completed on 31 July, the company said.
7IM announced the acqusition of Tcam, led by co-CEOs Alex Montgomery and Haig Bathgate, back in May.
The merged firm has £14 billion in assets under management with offices in London, Edinburgh and Jersey.
As part of the deal, Montgomery and Bathgate became partners in 7IM and joined its management committee. The Tcam brand is expected to be dropped by the end of 2018.
Tom Sheridan (pictured), 7IM chief executive officer, said: 'Tcam is a fabulous addition to the 7IM family. The Tcam team will augment 7IM’s London and Jersey based operations, providing us with a strong base in Edinburgh as well as additional resource and expertise in our investment team.'
Duncan Johnson, Caledonia's head of unquoted investments, added: 'The investment in 7IM exemplifies Caledonia’s successful, partnership approach to investing, providing the support and follow-on capital required to build incremental sustainable value in our investee companies over the long term.'
Caledonia acquired a 94% stake in 7IM back in June 2015, investing around £77 million in cash.